Mortgages, all of your questions answered
Offering Independent Mortgage Advice to Guisborough, Middlesbrough and Teesside for over 22 years, we have the experience to make a difference and save you money. We are not restricted to a single lender when advising you and with over 13,000 mortgage products available, we can draw on information from the whole marketplace, which changes on a daily basis.
There has never been a more important time to take independent advice on your mortgage than now !! In the current 'Credit Crunch' climate, you now cannot rely upon your existing High Street Lender to provide you with the best mortgage available. For most people, choosing the right mortgage will be one of the most important financial decisions they ever make and at Active, we can provide you with unbiased advice on which mortgage is most suitable for you.
When giving advice, we will take care to help you select a mortgage to fit your needs by asking for relevant information about your circumstances and objectives. Our advice will also depend on your particular requirements and on the market conditions at the time.
No matter what your circumstances, we will endeavour to find a mortgage to suit you.
Mortgage Types
Repayment Mortgages
A repayment mortgage (or Capital and Interest mortgage) will cost you more per month, but guarantees ownership of your home at the end of the term. Monthly repayments go towards clearing the interest and paying back your initial borrowing. In this way, if you choose to move house partway through the term, you will only have to pay off the remainder of what you owe. This may mean you can borrow less against your new property, or take a new mortgage out over a shorter term.
Some people choose to take out an interest-only mortgage to begin with, then switch to a repayment mortgage when they have more spare cash. If you are experiencing temporary financial problems or expect a wage increase in the future, this might be a good solution.
To see how much a Repayment Mortgage may cost you, 'Click here to use our Repayment Mortgage Calculator' or contact us directly for a quotation.
Interest Only Mortgages
In an interest-only mortgage, your monthly payments cover the cost of the interest, but you do not pay off the capital value of your home. This is a good way of keeping repayment costs down, but may be a gamble in the long run. At the end of the mortgage term you will be required to pay off any outstanding amount. Usually this will be the amount you borrowed in the first place. If you cannot pay off the remainder, you will be at risk of losing your home.
You may choose to save over the term of the mortgage. This does not have to be arranged through your lender, although they may offer you a number of investment options designed to clear your debt.
To see how much an Interest Only Mortgage may cost you, 'Click here to use our Interest Only Mortgage Calculator' or contact us directly for a quotation.
For further information or advice on any of the above, please contact us
Email: enquiries@activefinancialservices.co.uk 
Phone: 0845 555 0 888
*Your home is at risk if you do not keep up repayments on a mortgage or other loans secured on it.
[Back to the top]
